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going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> now, the white house thinks republicans have overdone the outrage today. they say the real problem republicans have is they don't want to raise taxes on the rich. so basically we are still deadlocked tonight, shep. >> shepard: vice president biden did his part for the economy today. he went shopping? >> yeah a new cosco here in washington, d.c. opened up today. big crowd in the parking lot. vice president's motorcade showed up. he actually bought a big screen tv as well as a apple pie. what could be more american than that. he went on to is a say he is feeling good and optimistic about a deal. take a listen. >> i am. i am. all these folks in this store, man, going to make a difference. >> more important than shopping trip will be what actually happens between the president and speaker boehner. we're told they had a phone call last night. initial report suggested it was tense. white house saying they made some progress. we
going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> now, the white house thinks republicans have overdone the outrage today. they say the real problem republicans have is they don't want to raise taxes on the rich. so basically we are still deadlocked tonight, shep. >> shepard: vice president biden did his part for the economy today. he went shopping? >> yeah a new cosco...
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Nov 29, 2012
11/12
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but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> is this assessment -- is this assessment of yours based on the meeting with secretary geithner or your phone call with president obama last night and can you tell us something about that phone call? >> well, we had a very nice conversation last night. it was direct. and straightforward. but this -- this assessment i give you today would be a product of both of those conversations. >> how much would you be open to the idea of discretionary spending cuts as part of a down payment to get to a longer range solution on entitlements and tax reform. >> there are a lot of options that are on the table including that one. >> mr. speaker, before the election you were asked whether if obama won, taxes would have to go up. you've made it sound like you would oppose that. now you've -- you're acknowledging that they will. >> the day after the election, i came here and made it clear that republicans would put revenue on the table. as a
but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> is this assessment -- is this assessment of yours based on the meeting with secretary geithner or your phone call with president obama last night and can you tell us something about that phone call? >> well, we had a very nice conversation last night. it was direct. and straightforward. but this -- this assessment i give you...
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Dec 6, 2012
12/12
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a lot of projects on hold, though, fiscal cliff. yep, the obstacle is washington all because of the need to sock it to the 2% not the 1.5% and the over 400,000 crowd, the 1%, or the need to fulfill the anti-tax pledge of allegiance many of our congressmen made to grover norquist. he makes the other guys look like crash dummies. we're on the cusp of an economic boom in this country. but we have politicians that would rather create a recession, a mandated economic collapse, let's create a bear market versus rising above. and guess what? these enemies of wealth and job creation may get their way and win. yes, to borrow a phrase from my own rant last time we were on the brink of a washington-inspired financial disaster, they know nothing. shawn in illinois. shawn? >> caller: hello, jim. >> what's up, chief? >> caller: from chicago land. >> done. speak to me. >> caller: -- for some time now, and i just heard a report that their sales revenue from call of duty black ops 2 has topped $1 billion in 15 days. and for the entire "call of duty"
a lot of projects on hold, though, fiscal cliff. yep, the obstacle is washington all because of the need to sock it to the 2% not the 1.5% and the over 400,000 crowd, the 1%, or the need to fulfill the anti-tax pledge of allegiance many of our congressmen made to grover norquist. he makes the other guys look like crash dummies. we're on the cusp of an economic boom in this country. but we have politicians that would rather create a recession, a mandated economic collapse, let's create a bear...
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Dec 1, 2012
12/12
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in part because of worries about the fiscal cliff. have entrepreneurs sitting on the sidelines. who wants to start a business without knowing what the capital gains tax will be, tax code rate. plus the whole office supply industry has been shrinking for awhile, not just office max but office depot and staples as company shifted away from using lots of paper towards digital solutions like apple ipads. meanwhile there's not that much demand for the technological devices some of the companies sell which have become increasingly commodized. just witness hideous performance of best buy. despite all these big perceived big picture, office max has been rallying like crazy. stock has run up 122% for year. and it's fallen from 4.26 from the beginning of august to nearly $10. right now where the stock is less than a point off its 52-week high. what the heck, right? five months ago this stock had been left for dead. but now somehow office max has managed to find new life and become a monster good performer. just when you expect the company to be take it on the chin. what the heck is really
in part because of worries about the fiscal cliff. have entrepreneurs sitting on the sidelines. who wants to start a business without knowing what the capital gains tax will be, tax code rate. plus the whole office supply industry has been shrinking for awhile, not just office max but office depot and staples as company shifted away from using lots of paper towards digital solutions like apple ipads. meanwhile there's not that much demand for the technological devices some of the companies sell...
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Dec 5, 2012
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president obama playing fiscal cliff hardball this morning. he's telling republicans he will not agree to a deal that doesn't include a tax hike on the wealthiest americans, hardening his position on this. he'll be meeting with business leaders today. >>> later this morning, speaker john boehner meets with fellow house republicans. sources tell cnn gop leaders are looking for a way out. >> it turns out the barefoot recipient of boots by a new york city police officer was shoeless but guess what, not homeless. city officials say jeffrey hillman does have stable housing, an parm in the bronx. they say he's lived there rent-free for the past three years. but hillman regularly panhandles in times square. >> a former boy scout who says he was sexually abused is suing is the boy scouts of america. the lawsuit claims his former troop leader, thomas hacker was barred from the group in indiana in the 1970s but was able to rejoin as a volunteer in illinois in the 1980s. hacker was arrested in 1988, later convicted in the aggravated sexual assault of an
president obama playing fiscal cliff hardball this morning. he's telling republicans he will not agree to a deal that doesn't include a tax hike on the wealthiest americans, hardening his position on this. he'll be meeting with business leaders today. >>> later this morning, speaker john boehner meets with fellow house republicans. sources tell cnn gop leaders are looking for a way out. >> it turns out the barefoot recipient of boots by a new york city police officer was shoeless...
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Dec 7, 2012
12/12
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and that's bad for businesses, large and small. >> reporter: behind the scenes, the two sides are talking again. but there was no progress in public. senators today fought over the debt limit, and ended up deadlocked over a bill to allow the president to automatically increase borrowing. >> he's shown what he is really after is unprecedented powers to spend taxpayer dollars without any limit at all. >> reporter: if the debt limit isn't raised, the country can't pay for the spending congress has already approved. and economists say the nation pays a high price for this kind of brinksmanship. >> business people aren't going to engage unless they have clarity with respect to this thing. >> reporter: but few insiders expect to find much clarity from washington in the coming weeks. darren gersh, nbr, washington. >> susie: investors will beor mn those fiscal cliff talks, and they will also be studying tomorrow's importa")jé:0@6cj& but josh feinman says the november numbers won't give an accurate picture of the labor market. he's chief economist at d.b. advisors. >> reporter: hi, josh, so you'r
and that's bad for businesses, large and small. >> reporter: behind the scenes, the two sides are talking again. but there was no progress in public. senators today fought over the debt limit, and ended up deadlocked over a bill to allow the president to automatically increase borrowing. >> he's shown what he is really after is unprecedented powers to spend taxpayer dollars without any limit at all. >> reporter: if the debt limit isn't raised, the country can't pay for the...
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Nov 30, 2012
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but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> we can debate at length whether the november 6th election was a mandate, but i don't think we can debate the basics that it was a work order, a work order from the american people to members of congress and to the president, roll up your sleeves, work together and solve the problems. we got the message. did speaker boehner get the message? because the message was work together. what we hear from him is all of his pain and frustration and angst dealing with the tea party in his own caucus. well, there comes a point when he needs to look beyond his caucus to the house and to the nation. >> all right. welcome back to "morning joe." >> i guess the more things change, the more they stay the same. it's depressing, you're right, harold, we've seen this movie before. this was a year ago. this happened a year ago. and i know the media says oh, it's the republicans' fault any time the house doesn't completely fold into what the pres
but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> we can debate at length whether the november 6th election was a mandate, but i don't think we can debate the basics that it was a work order, a work order from the american people to members of congress and to the president, roll up your sleeves, work together and solve the problems. we got the message. did speaker boehner get the...
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Dec 4, 2012
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cliff will really have. tonight we tackle the much-discussed concept of increasing tax rates for the top 2%. chief business correspondent ali velshi joins me now. help us cut through the spin. the partisans all have a different take on this. if you raise taxes on the top 2%, what's the impact? what does it look like and how much of an impact would it have on the deficit? >> well, let's look at it in two ways. one is income tax, right? right now, the highest earners, those households that earn more than a quarter million dollars a year, pay a higher tax rate on the marginal amount, the amount above the $250,000 a year. so we're talking about taking that rate from 36% to 39.6% if we even go there. that hasn't even been negotiated yet but that's 3.6% on every dollar you earn above $250,000. there are not a lot of studies that suggest that that would have catastrophic effects on the economy. the other area that democrats want to raise taxes are on investment income, things like capital gains, dividend income. no
cliff will really have. tonight we tackle the much-discussed concept of increasing tax rates for the top 2%. chief business correspondent ali velshi joins me now. help us cut through the spin. the partisans all have a different take on this. if you raise taxes on the top 2%, what's the impact? what does it look like and how much of an impact would it have on the deficit? >> well, let's look at it in two ways. one is income tax, right? right now, the highest earners, those households that...
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cliff. to your point, you recently said, even if we reach a deal, the economy is still at series risk of a recession. >> that is right. we are looking at and economy that is very weak. growth was very disappointed. less than 2% real gdp growth in 2012. we will be struggling to achieve that next year, even without hitting the economy with more fiscal bad news. if we go over the cliff, it is really a major downturn. uncertainty remains about what is coming next. put that all together and we could certainly be put on the edge of a recession. lori: that manufacturing number coming in the low 50s, singling contraction. is that the first signal that this economy really is in trouble? >> certainly not the first signal. household earnings down. real disposable personal income has not increased since may. we are really looking at an economy that is weak. ooly thing keeping keeping consumer spending going is that households have been prepared to cut back on their savings rate to such a low level that
cliff. to your point, you recently said, even if we reach a deal, the economy is still at series risk of a recession. >> that is right. we are looking at and economy that is very weak. growth was very disappointed. less than 2% real gdp growth in 2012. we will be struggling to achieve that next year, even without hitting the economy with more fiscal bad news. if we go over the cliff, it is really a major downturn. uncertainty remains about what is coming next. put that all together and we...
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Nov 29, 2012
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as issues like the fiscal cliff, unemployment and the deficit loom. but while there will be several openings in the obama cabinet for the second term, white house press secretary jay carney says romney is unlikely to fill them. >> is governor romney here tomorrow in some kind of cabinet-level position? some kind of audition for that position? >> no. >> reporter: and some think president obama could be aiming a little higher than a cabinet post. >> and after three weeks of dealing with the benghazi scandal, and the fiscal cliff, obama is prepared to offer romney a position in the administration, president of the united states. [ laughter ] he's like, i made a mistake. it's all yours. why, thank you. >> reporter: all jokes aside, this meeting of the political minds could be beneficial for both men. for the president, it is a chance to show he's put a tough campaign behind him. and is taking a bipartisan approach to his second term. and for romney, it's an opportunity to rehabilitate his image, which took a hit shortly after the ballots were counted, tha
as issues like the fiscal cliff, unemployment and the deficit loom. but while there will be several openings in the obama cabinet for the second term, white house press secretary jay carney says romney is unlikely to fill them. >> is governor romney here tomorrow in some kind of cabinet-level position? some kind of audition for that position? >> no. >> reporter: and some think president obama could be aiming a little higher than a cabinet post. >> and after three weeks...
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. >>> breaking news on the fiscal cliff. the gop saying they will agree to more tax revenue if something else happens. we'll tell what you that is. >>> where is john mcafee? the millionaire is still on the run in central america. le call in to the show this hour with how he has been surviving. it is an interview you will not want to miss. >>> plus, are you overtaxed? maybe. but not by uncle sam. we'll tell you why. >>> and why it may be the end of the road for detroit. one state senator's plan to dissolve the city. he is your guest. happy friday, everybody. mandy will be back on monday. i'm brian sullivan. thank you very much for joining us. >>> stocks relatively in a holding pattern again all ahead of the fiscal cliff. we're not seeing big moves. people unwilling to take bets. we're going to get to bob pisani in just a minute. >>> but first we need to get to eamon javers with some breaking headlines from mitch mcconnell on the fiscal cliff. eamon? >> brian, we're getting a trial balloon here just within the past couple of m
. >>> breaking news on the fiscal cliff. the gop saying they will agree to more tax revenue if something else happens. we'll tell what you that is. >>> where is john mcafee? the millionaire is still on the run in central america. le call in to the show this hour with how he has been surviving. it is an interview you will not want to miss. >>> plus, are you overtaxed? maybe. but not by uncle sam. we'll tell you why. >>> and why it may be the end of the road...
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Dec 6, 2012
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the foj kus is on washington as fiscal cliff negotiations continue. we will also get an update on the health of the labor market when the weekly jobless claims report comes out later this month. >>> by now you all know the siren logo. >> many of you will grab a cup of coffee this morning. starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. it's about doing right by the american people. >> i think if people would get in the room and leave their ego behind, and not be so skewed towards the party but be so sensitive to the lens of the american people, we will have an agreement. >> poppy harlow is joining us with more. we've been talking about how this will affect us. schultz says this goes way beyond our boarders. >> it's global. something that stuck with me talking to him about this, the people who need a deal most will be hurt t
the foj kus is on washington as fiscal cliff negotiations continue. we will also get an update on the health of the labor market when the weekly jobless claims report comes out later this month. >>> by now you all know the siren logo. >> many of you will grab a cup of coffee this morning. starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for...
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now, i'm not going to blame it all on the fiscal cliff. we have a slowing economy. we have slowing economies around the world. but i was at a dinner with a bunch of ceos in washington who are interested and care about this fiscal issue on monday night. and they were talking about we're not hiring. we're allowing attrition to happen. we're holding back on big spending. we want to see what happens here before we go forward. what's interesting about this is that the consumer seems to have a different view. the consumer -- for the consumer so far, this has sort of passed by. i wouldn't say blissful ignorance, but it has not affected their behavior. you had a fairly strong set of economic numbers this fall. the housing market seems to have finally turned up after a period of obviously deep decline. and so consumer confidence, which is one of our best proxies for this kind of thing, has been turning up and really does not yet -- the fiscal cliff does not yet seem to have penetrated their consciousness. for those of us who were in stores over the holiday weekend, stores ar
now, i'm not going to blame it all on the fiscal cliff. we have a slowing economy. we have slowing economies around the world. but i was at a dinner with a bunch of ceos in washington who are interested and care about this fiscal issue on monday night. and they were talking about we're not hiring. we're allowing attrition to happen. we're holding back on big spending. we want to see what happens here before we go forward. what's interesting about this is that the consumer seems to have a...
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cheryl: they are leaving town despite the fact we are nowhere close to a deal on the fiscal cliff. what is going on, rich edson? "imus in the morning" rich: house republicans will host the events with small business leaders in their districts and highlight what republicans say will be the economic damage small-business from raising income-tax rates on families earning $250,000 a year. president obama is leaving washington too though he is only heading across the potomac river, going to suburban virginia to speak to a middle-class family and he will press congress to protect those making less than $250,000 a year from tax increases by raising rates on those making more. in washington it is the same fight. >> president obama, democrats in congress have ever been ambiguous, provide economic security for 90% of american families and 97% of small businesses asking the wealthiest 2% to contribute just a little more to stop this runaway debt. >> what the president is really interested in as we learned just yesterday he is getting as much taxpayer money as he can first by raising taxes on
cheryl: they are leaving town despite the fact we are nowhere close to a deal on the fiscal cliff. what is going on, rich edson? "imus in the morning" rich: house republicans will host the events with small business leaders in their districts and highlight what republicans say will be the economic damage small-business from raising income-tax rates on families earning $250,000 a year. president obama is leaving washington too though he is only heading across the potomac river, going...
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the white house's plan to of all for a boy and the fiscal cliff. president made the certainty that business leaders will keep the country going. he will speak of the 2012 tribal nations. we will be back with more headlines in just a minute. i fought on the front page of yesterday's new york post seen here has a lot of people questioning the new york newspaper and the photographer who took the photo. the headline reads doomed pushed on the subway track, this man is about to die. the 58 year-old ki suck han is desperately calling to get off of the platform near times square. seconds after he captured the it should amish the train fatally struck hawn. he died in the york hospital leaving behind a wife and daughter. near a police guard as the questioning a suspect now. umar abbasi took the picture just moments before dahan was struck. a lot of facebook people fired off getting emotional. jacqueline said that this is so sick and ridiculous and there is absolutely no respect for human life and the grieving family of this greeting of this man. >> you coul
the white house's plan to of all for a boy and the fiscal cliff. president made the certainty that business leaders will keep the country going. he will speak of the 2012 tribal nations. we will be back with more headlines in just a minute. i fought on the front page of yesterday's new york post seen here has a lot of people questioning the new york newspaper and the photographer who took the photo. the headline reads doomed pushed on the subway track, this man is about to die. the 58 year-old...
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and the fiscal cliff negotiations. u.s. banks posting their best quarterly performance in six years. according to the fdic, banks posted a combined profit of more than 37 1/2 billion dollars during the third quarter. that is the 6.6% increase from the same time last year. the number of banks on the agency's problem list also fell from 732 to 694. >>> newly-elected massachusetts senator elizabeth warren has been tapped by democrats for a seaton the senate banking committee. warren won her seat campaigning as a populist who would crack down on big banks. this comes two years after she unsuccessfully lobbied to the run for the consumer protection bureau. that is the latest from fox business network, giving you the power to prosper lori: let's give you an update. i was chuckling because so many people are talking about anna wintour, nomination, to be ambassador to england. a lot of people gufawing over that. let's talk about the stock market. it is doing absolutely nothing. the reason is investors are holding out, they hope we
and the fiscal cliff negotiations. u.s. banks posting their best quarterly performance in six years. according to the fdic, banks posted a combined profit of more than 37 1/2 billion dollars during the third quarter. that is the 6.6% increase from the same time last year. the number of banks on the agency's problem list also fell from 732 to 694. >>> newly-elected massachusetts senator elizabeth warren has been tapped by democrats for a seaton the senate banking committee. warren won...
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washington is playing politics over the fiscal cliff. we are near session lows right now. >> 11 points away from session lows. the dow is clinging onto that level right now. consumer discretionary is your best performing sector this month. it is lower today, as is technology. the s&p 500 trying to hang onto a monthly gain. not sure if we can do it. certainly higher for the week and nasdaq higher for the both of them. a two-day chart of yelled is really interesting. they expect fourth-quarter sales in china to decline. lots of analysts cutting this stuff today. melissa: lauren, thank you very much. lori: after laying out his opening bid to fisk the fiscal cliff, -- listen to a sampling of that. >> you will see your taxes go up on january 1. i am assuming that does not sound too good for you. that is sort of like the lump of coal you before christmas. that is a scrooge christmas. melissa: is the president right to put the blame on congress or are his demands unrealistic? joining us for the second today is juan williams. the president setti
washington is playing politics over the fiscal cliff. we are near session lows right now. >> 11 points away from session lows. the dow is clinging onto that level right now. consumer discretionary is your best performing sector this month. it is lower today, as is technology. the s&p 500 trying to hang onto a monthly gain. not sure if we can do it. certainly higher for the week and nasdaq higher for the both of them. a two-day chart of yelled is really interesting. they expect...
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Dec 5, 2012
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. >>> later today president obama meets with two very different groups about that fiscal cliff crisis. first the president will speak to and answer questions from members of the business round table. this is an association of chief executive officers of top u.s. companies. later in the day the president will address a conference of native american triable leaders. both groups are concerned about automatic tax hikes and spending cuts that will kick in on january 1st if congress does not act. >>> coming up at 6:15 the uphill battle facing this man republican house speaker john boehner within his own party. as he tries to negotiate a deal do avoid that fiscal cliff. >>> time now is 6:08. let's check in with tara. what are you keeping an eye on? >> in san francisco we have issues actually with some backup. spinout near hospital suffer on 101 southbound and there are several cars that are in the fast lane and definitely having an impact on traffic. right now let's take a look at our maps. we can show you where we have other accidents brewing here. 280 northbound. and then we have flooding
. >>> later today president obama meets with two very different groups about that fiscal cliff crisis. first the president will speak to and answer questions from members of the business round table. this is an association of chief executive officers of top u.s. companies. later in the day the president will address a conference of native american triable leaders. both groups are concerned about automatic tax hikes and spending cuts that will kick in on january 1st if congress does not...
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is it going to be easier to get bipartisan view on immigration or on the fiscal cliff? they're both very important in terms of getting business moving. >> i think there's more after consensus on immigration than on the fiscal cliff. >> let's talk about taxing overseas profits only where they are earned. explain that. >> well, that's really something where the united states is an outlier and the argument here is bring them back where they're earned. at the moment the problem is american companies have lots of money sitting overseas because they don't want to bring it back and be taxed in the united states. so that is something that puts as one of his eight points because it is holding back investments by american companies. >> all right. the new issue of "the economist" is "the world in 2013." daniel franklin. thank you so much for being on the show this morning. stay with us. much more on "morning joe." ♪ ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever be
is it going to be easier to get bipartisan view on immigration or on the fiscal cliff? they're both very important in terms of getting business moving. >> i think there's more after consensus on immigration than on the fiscal cliff. >> let's talk about taxing overseas profits only where they are earned. explain that. >> well, that's really something where the united states is an outlier and the argument here is bring them back where they're earned. at the moment the problem is...
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do on whether or not people heard about the fiscal cliff. have you heard of it? comparing it to some of the other times people asked about news event, there's the trayvon martin shooting in the street, occupy wall street, 82%, facebook ipo 7 %, 70% of the republic has heard it compared to the fiscal crisis in greece, 63% had heard it. in that number 36% had read a lot about it or heard a lot about it. do they believe a solution is likely? our numbers different from other poles. americans are more optic. first of all see what they think, unlikely 73% back in november when we asked about the debt program would there be an agreement, 73% saying that, now 44%. the number you want to think is 4% to 44% thinks a solution is likely. who thinks it's likely, that's interesting and driving this number. he can break it down by party. look at what we find, republicans 52-42, independents, i come back here, there we go, independents 47-32 and it's really what you see here 60% of democrats think it's unlikely. i just want to show you again when we get to
do on whether or not people heard about the fiscal cliff. have you heard of it? comparing it to some of the other times people asked about news event, there's the trayvon martin shooting in the street, occupy wall street, 82%, facebook ipo 7 %, 70% of the republic has heard it compared to the fiscal crisis in greece, 63% had heard it. in that number 36% had read a lot about it or heard a lot about it. do they believe a solution is likely? our numbers different from other poles. americans are...
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. >> gregg: which is congress's job. [ laughter ] >> and more important than the fiscal cliff a lot of investment houses are lowering their growth outlook. that is because the owners of small businesses, they are the drivers of the economy. they hire. right now, one out of five cut jobs in the next 12 months. one out of three is cutting capital spending. if there is no jobs we don't have consumer spending that is 70% of g.d.p., so this is really steam rolling. it is frightening. >> gregg: i was reading economists and they say household purchases, wages in salary going down, durable goods decreasing now we have manufacturing coming out on monday as well as jobs report on thursday or friday? >> yeah, the jobs report is expected to be very dismal, about 75,000 net jobs. some of that is because of sandy, but housing market is rebuilding, it's recovering. that makes people feel more wealthy. this retail season is going to be very critical. it's going to tell us a lot. stocks could go up on that. we have some tail winds but right now there is a lot of question marks. >> gregg: brenda, we'll
. >> gregg: which is congress's job. [ laughter ] >> and more important than the fiscal cliff a lot of investment houses are lowering their growth outlook. that is because the owners of small businesses, they are the drivers of the economy. they hire. right now, one out of five cut jobs in the next 12 months. one out of three is cutting capital spending. if there is no jobs we don't have consumer spending that is 70% of g.d.p., so this is really steam rolling. it is frightening....
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and even as a small business person, everyone talks about what the fiscal cliff could do to small business, what obama care can do for small business, but you said we shouldn't worry about that so much, that we should get some sort of compromise in order to keep moving and keep talking and keep moving forward? >> well, i think that it was pretty clear during the course of the election and since and even in the president's speech today where he said he's willing to give on some revenue and some spending cuts, he's proposed some, he's already passed some into law. and beyond that, just from my perspective, what i see is that we know that we're a confidence-based economy, we're 70% of the economy driven by consumer spending and anything that puts a crimp in consumer spending is not good for the economy. so to put a tax rise, a tax rate increase for the middle class makes no sense to me. someone who makes 50, 60, $70,000 a year will lose and will take away a lot of discretionary purchases from people like me and travel and a whole host of other areas. i hope our leaders in washington are liste
and even as a small business person, everyone talks about what the fiscal cliff could do to small business, what obama care can do for small business, but you said we shouldn't worry about that so much, that we should get some sort of compromise in order to keep moving and keep talking and keep moving forward? >> well, i think that it was pretty clear during the course of the election and since and even in the president's speech today where he said he's willing to give on some revenue and...
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is the stock market pricing in a tumble over the fiscal cliff? losh abet senior economist and market strategist milton miss rought at this breaks it down with tracy and ash. stick around >> gold bars i suppose. >> i would be buying gold bars and real estate. >> under the mattress. >> let it all go. ashley: nothing wrong with those. not at all. >> and on that note --, take it away. ashley: thank you, ladies. as lori just said, drifting along. market up by 11 points. good afternoon, i'm ashley webster. tracy: i'm tracy byrnes. political theater over the fiscal cliff. how a senate battle over the presidential power around the debt ceiling could shape the cliff talks going forward. ashley: apple shares up today, but still down more than 20% from the all-time high less than three months ago. now is the time to buy. is there more downside ahead? all the people wondering about apple. we'll speak to one leading analyst is here soon. tracy: i do my part this holiday season for apple. somebody has to buy the stock. goinn over the fiscal cliff means big bud
is the stock market pricing in a tumble over the fiscal cliff? losh abet senior economist and market strategist milton miss rought at this breaks it down with tracy and ash. stick around >> gold bars i suppose. >> i would be buying gold bars and real estate. >> under the mattress. >> let it all go. ashley: nothing wrong with those. not at all. >> and on that note --, take it away. ashley: thank you, ladies. as lori just said, drifting along. market up by 11 points....
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fiscal cliff. citigroup plans to cut 11,000 jobs as the bank's new ceo looks to save money. the cuts amount to about 4% of siti's -- sity's -- citi's work group. and it includes closing some branches. u.s. companies added fewer workers in november. bartly because super storm sandy shut down many businesses. including factories and retailers. they will get a better picture of the job market friday. shares of apple fell as much as 4% after a research firm raised its outlook of sales for tablet computers, pointing to strong demand from ipad rivals, from amazon, google and samsung. >>> and nokia's stock rallied,a -- after they launched a new version of the smart phone for the chinese market. >>> and another starbucks may be opening near you. the world's biggest coffee chain plans to add 150 stores over the u.s. over the next five years bringing the total number of starbucks to 20,000 by 2014. that's your money watch. for more, head to cbsmoneywatch.com. in new york, i'm alexis christoforous. >> a class
fiscal cliff. citigroup plans to cut 11,000 jobs as the bank's new ceo looks to save money. the cuts amount to about 4% of siti's -- sity's -- citi's work group. and it includes closing some branches. u.s. companies added fewer workers in november. bartly because super storm sandy shut down many businesses. including factories and retailers. they will get a better picture of the job market friday. shares of apple fell as much as 4% after a research firm raised its outlook of sales for tablet...
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Dec 2, 2012
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. >> to make the argument we've made is to raise taxes and revenues and approach the fiscal cliff and argument from small businesses and others, if you increase our rate, we're either going to have to layoff individuals, not going to hire anybody else right now, and so, therefore, this economy that's already stalled is not going to grow at a clip. >> you remember two years ago, the question was, should we keep the bush rates, at least temporarily, given the problems in the economy and at that time, all the democrats acknowledged raising taxes is not a way to boost economic growth. for whatever reason, this time, there seems to be more of an ideological commitment that the rates have a rise and i think the president ought to be thinking, how do we grow. >> that's what the president said in 2010, we can't afford taxes right now in this down economy, what's changed. >> two years, i guess the election change. great to see you this morning, appreciate it. >> coming up on the show, it's the phone call that every parent dreads, informing you your child has been in an accident. this father an
. >> to make the argument we've made is to raise taxes and revenues and approach the fiscal cliff and argument from small businesses and others, if you increase our rate, we're either going to have to layoff individuals, not going to hire anybody else right now, and so, therefore, this economy that's already stalled is not going to grow at a clip. >> you remember two years ago, the question was, should we keep the bush rates, at least temporarily, given the problems in the economy...
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that's the way it will be for much of december, unless there's a huge headline on the fiscal cliff talks. back with the mayor of phoenix trying to lure people away from california. stuart: businesses in california fleeing that state, tax rates, cost of doing business just too much. one place they are going to phoenix, arizona. here's why, according to the phoenix economic council, operating costs are 40% lower than in california. arizona so attractive to business that in the last eight years more than 60 california companies have relocated there. phoenix mayor greg stanton joins us right now. your honor, welcome to the show. good to have you with us. >> great to be on, thanks for having me. stuart: okay, now, you have got a great climate, understand that. your costs are 40% lower, but i want to know, did you prize those california companies over to you by giving them huge tax breaks? >> we want to make sure in arizona that we are as competitive as possible. stuart: is that a yes? programs, tax incentives, but look, a company is not going to move, a company is not going to expand in arizo
that's the way it will be for much of december, unless there's a huge headline on the fiscal cliff talks. back with the mayor of phoenix trying to lure people away from california. stuart: businesses in california fleeing that state, tax rates, cost of doing business just too much. one place they are going to phoenix, arizona. here's why, according to the phoenix economic council, operating costs are 40% lower than in california. arizona so attractive to business that in the last eight years...
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Nov 29, 2012
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cliff, it's one reason why we believe we put revenue on the table as long as it's accompanied by serious spending cuts to avert this crisis. >> > in order to kick the debt ceiling the wanted its deficit reduction and this is basically that a stop- active measure to save it or to get a deal done. nobody wants to go there but we need deficit reduction and this is how we to it. >> . read saying that was not doing that well but now, john boehner is a saying that it is a little bit better what is going on? >> not really anything they are still talking at each other and the president is now bringing more to the bargaining table for john boehner to bring more provisions for the debt ceiling. >> at least fo
cliff, it's one reason why we believe we put revenue on the table as long as it's accompanied by serious spending cuts to avert this crisis. >>
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Dec 6, 2012
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there is that fiscal cliff worry out there, it's a real concern. there are the tax implications here and the profit-taking that's under way right now and i don't know that we're done with that and just in general a macro economic environment and so much of the apple story is still consumer products and there's pressure in those areas, comes right back to gross margins and what can the business model support right now. those are a lot of reasons why they're neutral. >> when do you get more positive given your latest checks are fairly favorable in terms of products, retail channels, it's clear that they have a pretty big moat when it comes to tablets. at what level do you get more positive? >> i think you're tempted technically and earnings power perspective as well as the dividend gets above 2% and i think that's attractive for many people. you're right, the holiday checks we've done, black friday and the commencement of the weekend through cyber monday all checked out favorably for apple. i think they're still the hottest going brand in town and th
there is that fiscal cliff worry out there, it's a real concern. there are the tax implications here and the profit-taking that's under way right now and i don't know that we're done with that and just in general a macro economic environment and so much of the apple story is still consumer products and there's pressure in those areas, comes right back to gross margins and what can the business model support right now. those are a lot of reasons why they're neutral. >> when do you get more...
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the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of fracturing that we're doing, the fact that housing has been doing tremendously well, and interest rates remain very low with prices, so there's some sense that there's a bit of a renaissance on the horizon, and if the government doesn't mess that up too much, 2013 could end up being as good as 2012 if not a little better. i don't know if you completely disagree with that, peter, but i think there's enough good going on that it could offset the bad. >> to you think it could go up to 10% unemployment. do you agree with peter on that? >> i don't know. i don't know if it will go go up
the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of...
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get their act together and deal with the fiscal cliff. brace yourself for a job number that could be even lower than the already weak forecast. i hope i am wrong about that. from the cnn money newsroom in new york, i'm ali velshi. that's it from me. same time tomorrow. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it has 7 antioxidants to support cell health. social security are just numbers thinkin a budget.d... well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about th
get their act together and deal with the fiscal cliff. brace yourself for a job number that could be even lower than the already weak forecast. i hope i am wrong about that. from the cnn money newsroom in new york, i'm ali velshi. that's it from me. same time tomorrow. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this...
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as we approach the fiscal cliff and harry reid's state has been slow. it's hit every industry in nevada and i mean every industry. >> how's business? >> it's been better. >> susan austin run as small business outside reno, nevada, but her business is different. it's a brothel. the legendary mustang ranch. >> this is one of our suites, the asian suite. austin thought the world's oldest profession would be recessionproof. not true. >> then went my high rollers. they discovered they didn't have the discretionary income and they couldn't play as hard as they used to. well that definitely dug into their wallets which definitely affected us. >> will the fiscal cliff impact the mustang ranch? >> well, if folks rub out of money and jobs, i suppose it could. >> gillman is a republican who is looking to nevada's powerful democrat harry reid to keep that from happening. >> do you like harry read? >> harry reid and i have been friends if 30r years and harry and i both share a vision and a love for the state of nevada. >> susan austin says even here the cliff will h
as we approach the fiscal cliff and harry reid's state has been slow. it's hit every industry in nevada and i mean every industry. >> how's business? >> it's been better. >> susan austin run as small business outside reno, nevada, but her business is different. it's a brothel. the legendary mustang ranch. >> this is one of our suites, the asian suite. austin thought the world's oldest profession would be recessionproof. not true. >> then went my high rollers. they...
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forget the fiscal cliff stuff. what we know is coming, already will be a hock to the system. you lay that are with even more draconian tax hikes, more regulations and this war on business that i've been seeing, it's not going to be that great. >> you register surprise like i go when the 7.7% number came in. but we've got to find out, did the labor force shrink? that's the key to understanding the rate -- >> lot of economic data, the headlines look good. when you dig, it's been disappointing. >> let me conclude, that we have it, 7.7%, the unemployment rate in november. 146,000 jobs created. that's it for this fox business special report. we'll continue the coverage throughout the day. now back to our regular programming. >> steve: all right. thank you very much. it's interesting what peter barns said from washington and that was that in the two months running up to the election, now there apparently have been revisions for september and october. 50,000 fewer jobs were created than reported by the federal government. that's curious. >> brian: now to your headlines. they're accu
forget the fiscal cliff stuff. what we know is coming, already will be a hock to the system. you lay that are with even more draconian tax hikes, more regulations and this war on business that i've been seeing, it's not going to be that great. >> you register surprise like i go when the 7.7% number came in. but we've got to find out, did the labor force shrink? that's the key to understanding the rate -- >> lot of economic data, the headlines look good. when you dig, it's been...
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cliff negotiations. the dow rallied because of those comments. if there's no deal, though, the bush tax cuts will expire, sending taxes up to about $2,000 for a typical family of four. president obama taking that number to twitter, asking americans to tweet lawmakers using the #my2k. telling lawmakers what that means to them. he would lo he would like them to expire for americans making over $250,000, though. >>> more than half a trillion dollars has been spent on jobless benefits over the past five years. whether to extend additional federal unemployment benefits beyond the end of the year. rising number of families on food stamps, 15,000 families received food stamps up 10% from 2010. >>> cnn's 2012 hero of the year will be an all-star tribute, bringing together the world and people helping others. >> some of those stars have their own tales of inspoiration. including superstar gloria estefan. >> the people we should really celebrate are people out there that are doing other things helping other human
cliff negotiations. the dow rallied because of those comments. if there's no deal, though, the bush tax cuts will expire, sending taxes up to about $2,000 for a typical family of four. president obama taking that number to twitter, asking americans to tweet lawmakers using the #my2k. telling lawmakers what that means to them. he would lo he would like them to expire for americans making over $250,000, though. >>> more than half a trillion dollars has been spent on jobless benefits over...
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. >> and finding a way to steer clear of the fiscal cliff. the chief fiscal cliff negotiator tim geithner working with leaders to get things moving. there are just 33 days left to get a deal done. congress breaks for the holidays in just 15 days. dan lothian joins us. so the clock is ticking away. >> after the meeting the president had after he went to southeast asia the lawmakers were optimistic. now you are hearing some pessimistic as the clock winds down. you see the president pushing the bush era tax cut extension for middle class america. the white house doesn't believe this is the comprehensive solution, but part of a solution. they are reaching out to small business owners, sitting down with top ceos yesterday. he will head to pennsylvania tomorrow. you saw him at the white house with middle class america who e-mailed the white house about how they would be impacted if the middle class tax cuts were not extended for them. the president sounding optimistic that the deal can get done. >> our ultimate goal is an agreement that gets our lo
. >> and finding a way to steer clear of the fiscal cliff. the chief fiscal cliff negotiator tim geithner working with leaders to get things moving. there are just 33 days left to get a deal done. congress breaks for the holidays in just 15 days. dan lothian joins us. so the clock is ticking away. >> after the meeting the president had after he went to southeast asia the lawmakers were optimistic. now you are hearing some pessimistic as the clock winds down. you see the president...
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it's not just solving the fiscal cliff issue. that's just a near term issue. but that solution needs to create a business environment that allows businesses to grow because we're only expanding 2% gdp. we need at least 3 1/2, 4% to bring down unemployment. so we are fighting for the soul of america. >> steve: 'cause you need to help the economy and sell cars, too. >> that's an important part, to because next to our homes, the purchases -- it's always a lead indicator. >> gretchen: you would know, and this is why you were invited, because you run ford and you've been very successful at it. by the way, you took no bailout money because you borrowed money before that other fiscal cliff that we went over when the car industry was bailed out. did the president listen to you? >> i think he absolutely did. of course, i would do it again about testifying against my competitors because clearly the united states economy was in a recession and could have gone into a depression. i'm glad we did testify on behalf of our competitors at the time because we were doing the rig
it's not just solving the fiscal cliff issue. that's just a near term issue. but that solution needs to create a business environment that allows businesses to grow because we're only expanding 2% gdp. we need at least 3 1/2, 4% to bring down unemployment. so we are fighting for the soul of america. >> steve: 'cause you need to help the economy and sell cars, too. >> that's an important part, to because next to our homes, the purchases -- it's always a lead indicator. >>...
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. >>> americans could be singing the blues if congress doesn't act to avert the fiscal cliff. the longer congress waits the more complicated for businesses to figure out how much to pay workers early next year. the confusion could cost employers money, especially small businesses which use payroll software which takes time away from running their business. starbucks ceo howard schultz agrees. >> this single issue has a seismic affect on the rest of the world that we have never been as connected in the domino effect of a bad outcome here will have significant negative consequences domestically and around the world. >> negative consequences, seismic or not, none is stopping starbucks plans for 1,500 more cafes across america next year. and just as many around the world. but we get his point. >>> speaking of the fiscal cliff, we know what the parameters of a deal in congress will look like, right? on taxes, republicans give in to raise taxes on the wealthiest 2% and democrats will agree to rein in tax breaks, right? democrats are fighting hard to preserve the tax deduction for st
. >>> americans could be singing the blues if congress doesn't act to avert the fiscal cliff. the longer congress waits the more complicated for businesses to figure out how much to pay workers early next year. the confusion could cost employers money, especially small businesses which use payroll software which takes time away from running their business. starbucks ceo howard schultz agrees. >> this single issue has a seismic affect on the rest of the world that we have never...
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Dec 4, 2012
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gridlock in washington over the fiscal cliff making stock investors really nervous. stocks are acting unpredictable. so watch out ahead here. companies should be making hiring and spending plans for next year. instead they're left wondering whether consumers are going to take home less money, and that government agencies can slash spending. a recipe for recession. i asked the ceo of fedex how companies plan ahead when washington is so dysfunctional. >> well i think most of the ceos look at the situation in washington with complete amazement and dismay, to be frank about it. the problem is, the ideological pinnings on both sides of this argument are so difficult to bridge, that it's going to be hard for them to get a deal. >> that's right. other ceos i talked to yesterday said they think it will be hard to get a deal, soledad and it's kind of a grim move right now in d.c. about how long it's going to take -- >> xavier becerra, it sounded like compromise could be on the table because they're going to come to this cliff deadline that will put pieces in place that maybe
gridlock in washington over the fiscal cliff making stock investors really nervous. stocks are acting unpredictable. so watch out ahead here. companies should be making hiring and spending plans for next year. instead they're left wondering whether consumers are going to take home less money, and that government agencies can slash spending. a recipe for recession. i asked the ceo of fedex how companies plan ahead when washington is so dysfunctional. >> well i think most of the ceos look...
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i say fiscal cliff, david, you say? >> we have a short-term ficscal cliff. we need to deal with the fiscal cliff. have a credible down payment on the tax and spending side. bridge to a grand bargain next year. the fiscal cliff is the symptom. structural deficit is the disease. we need to learn from australia, canada, new zealand, sweden. we need to do it next year. >> all right. >> get dr. dave to washington right away so that we avoid what cramer on "meet the press" this weekend had great line. he said on january 8th when the reporting starts, there will be a foot race to fire people if we don't get this cliff taken care of which is why if we're going over the
i say fiscal cliff, david, you say? >> we have a short-term ficscal cliff. we need to deal with the fiscal cliff. have a credible down payment on the tax and spending side. bridge to a grand bargain next year. the fiscal cliff is the symptom. structural deficit is the disease. we need to learn from australia, canada, new zealand, sweden. we need to do it next year. >> all right. >> get dr. dave to washington right away so that we avoid what cramer on "meet the press"...
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. >> the stocks are following the fiscal cliff and the market dove yesterday on comments from house speaker john boehner. data released yesterday showed economic growth in the u.s. is still weak. consumers and businesses alike are putting a hold on spending. natalie? >> thank you. >>> and a grade school in south lina has shed new light on how to take a class photo. they didn't just stick the short kids in front, call kids in the back. each child wore a specific color, formed an amazing image of a light house. all part of the annual cultural week at beach hill elementary. great job, kids. that's fantastic. >>> it is 7:19. back to savannah, willie, and al. makes my photos look terrible. >> way more organization than my elementary school. >>> who will be with david gregory? just wondering. >> people don't know, willie trying to do an interview with david gregory, al was heckling him. >> heckling me here, covering serious matters of the day, have the peanut gallery over here. >> can't be with the one you love, love the one you're with. >>> how about the weather. >> let's show you what we've got
. >> the stocks are following the fiscal cliff and the market dove yesterday on comments from house speaker john boehner. data released yesterday showed economic growth in the u.s. is still weak. consumers and businesses alike are putting a hold on spending. natalie? >> thank you. >>> and a grade school in south lina has shed new light on how to take a class photo. they didn't just stick the short kids in front, call kids in the back. each child wore a specific color,...